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Home My WebLink About1008 ~ fi3 ~~~9 . _ . ~ . ' i' ~21 ~ ~nd insuranoe premiume, aa the case ma,y be~ _sach ea~oees ahsti be cr~edited by the mort~a~e on anb~eqoe~t p~yments to be made by the mort,Qa~or. I2; however. the month~j paunnents made by the maart~ag~or . under (b) al peeraaraph 8 preoedin~ shall not b~ snfficient ~o p~~yground reats, t,ases andas~m ents ~ aa~ insnrano~e premiums, ae the case ma~y be. w?hea the asme aball beooms due iad ~1 then tb?e mortgagor at~aU pay to the mortgag~ee any amonnt necesaary to make np the de~cienqr, on a~ the d~ts when ~yment of anch around renta, taxee, aaeeasmenta. or inanxanoe premiums ah~ll be due. ii at~sny time the morkga;gor sball tender to the mortgagee in aocor~aoe with the provisians oi the note secured here4Y. fiillp~ym ent of the entire indebtedneas represented thereby, the martg~'ee shali. in oom- pntinQ the ~anount of auch indebt~edneas. credit ~o the aooonnt of the mortgagor aD p~rmenta ma~de under - the proviaions a~i a~ ) af _paragraph 2 hereof which the mor~kga~ee haa not beoome obUgated to pa~y, to the ; F~ederal Honsing Co~mmias~oner and an,y bslance in the fbnds s~ccumnlated nnd~r the prov~sions - o! (b) o~ saidp~ ph 2. If there ahall be s defanlt nn er any oi the proviaions af this m8 re- sulti~?g in s p linb c s~ale oi the prem~see oovered herebyt or if the mor#gRg+ee aoqnirea the Pra ~er~ : wise after defauit, the mor#ga~ee ahall app~y, at the time oi the oonuneacement of such prooeediags or at the time the pro~r~y is otherw~se aoquired, the balanoe then ~a~ning in the fi~ada aoc~wnalated under ~(b~ of paragrap~b? 2 p• as a credit against the amonnt or fprincip~ai then remainiag unpaid under ~ said ~te and ahall pro~ust ~ n y p a y ments which a~all hsve b e e a m a~ e under ( a) o f s a i d p a r~ g r a p h. ; ~ 4. Tl~st he wiII pa,y a11 tues, aseeeameuta, water ratee. and other governmental or mnnicipal chargee. ~ linea, or impositiona, for wbich provision haa not been made hereinbefor~ and in defanlt thereof the mort- . g~gee ma~y psy the same; and that he will promPt~y deliver the offici~l receipts therefor to the ~ocortga~gee. . b. That he will permi~ oasnmi~, or snffer no wsste, impairment, or dete~rioration ot asid ~roperty or ~ F • an,y~t thereof; and in the avent of the failnre ai the mortgag~or to keep the bu~dinga on aaud premises ' ~ and ~ho~e to be erected on said prao~ises. or improvements thereon. in good repair. the' mortgagee may ~ : maice aach repairs as in ita diacretion it may deem neoesasry for the proper preaervation tDereo~f, and the ~ fall amount of each aad every auch p~?ment s6all be immediatsly dne and p~yable, and shall be aecured - by the lien of thia mortgage~, ~ That he ~viU pa~y all and s~ngular the oosts, charges, and e~penaes, inclnding rMSOnable law~rer'a ~ . iees, and ooats o! abatracta of title~ incurned or paid at any time by the mo~ becanse of the failnre oa ~he pait of the ruortgagor promptly and inUy to pertorm the agreementa~ a-ncI eavenants ot aaid prom- iaaory note and ffiia mortgag~ and said co~sts, charge~, and e~penses ahall be immediat~y dne and p~y- sble sad ah~ll be aecnred by the liea of thia mortgage. , 7. That he aiIl keep th~e improvementa now existing or he~r~after ezecbed on the mortgaged Propert9. 'i • 3nsured aa ma,y be required ~mm time to time by the m loas by flre and other hsza:da~ ~ ~ c~susltiea, and contingencies in aach amounts and for aanc~ pen~m~y be reqnired by t~ortgagee, • and will p~yprampt~y, when dne, aay presniuma on such insnrauoe ior ~ayment of which provision has nat been made herPanbefore. All inaurance ahall be carried ia eo~np~n~~ approved by martgagec and the policies,.and renewals thereoi ahall be held by mortgag~ee and have attached ther~to loas payabte ~ clanaes in favor of and in form a«:eptable tfl the mortgagee. In event of losa he will give immediate notioe by mait to mortgag~ee, and morkga~ee may make proof of lo~s if not made prompt~y by mort,gagor, ~ and e~ch Ynsuirance coampany ooaoerned ia be~eby authorised and directed to make p~~yment for anch lesa direct~y to mortga,g~ee instead oi to mortgsgor and mortgagee 3ointly, and the insurance proceeds. or a~oy pazt thereof, may be applied by mortgagee at its option either to the reduction of the indebtednesa hereby secured or to the reatoration or repair of the roperty daraaged. In event of forecloanre of this mwrtgag~e or other trsu~a#er of title to the mortgage~ prnperty in extinguiahment of the indebtedness secnred hereby, ail right, title, and interest of the mortgagor in and to aqy inaurance policies then in foroe . sbaIl paaa to the p~u~chaset or grantee. 8. That the mortgag~ee may, at any time pending s auit npon thia mortga,g~e, apply to the oourt hav- ~ng ~qriadidaon ther~eof for the appointment of a receiver, and such oonrt shall forthmith appoint a reoeiver o! the premiaea ~overed hereby all and singular, inclnding all and ain~uls?r the ineo~e, pro8~ts, ~ inanes, and revenaes fr~n what~ver souree derived~ ~ each and every a~ whicb, ~t being expreaa~y under~. . ~~and~snch rec~ shall h~ave sll~ the broa d adnd e~ffecti~'ve fnn~~~and d bsbendam clanaes entrns'ted by a conrt to a reoeiver, and anch appointment ahall be made by snch oonrt aa an ~ eqnity and a matter of abaolute right to said mortgagee, and wit6out referenoe to the adeqnacy or inad- equaey of the value of the property mortgaged or to the aalvency or inaolvency of said mortgagor or the defendants, and tbat anch renta. profitm, income, iasues, and revennea a6all be applied by such reoeiver aooo~ to the lien of this mort,gage and the practice of anch courk .In the event of any defanlt on the paxt of e mortgagor herennder; the mortgagor agree~ to pa,y to t6e mortgag+ee on de9mand as a reaso~ able monthly x~entai for the premuea an amonnt at teast equivatent to one-tvvelfth o# the aggregate of the twelve monthly iaatallmenta payable in the then current year plna the actual amonnt of the annual . water rates, and insurance premiuma ior anch year not eovered by the aforeaaid 9. The mortgagor further covenants that should thia mortgage and the note aecured hereby not be eligible for insurance nnder the National Housing Act within 30 daya from the date ~en~of . (wri#en stat~ement of any ofl5cer of the Federal Honsing Adminiatra~ion or anthorized ag~ent of the Federal Housing Commissioner dated subsequent to the aforesaid time fro~ the date of this mortgag~e, ~leclining to insure said no{,~ and this mortgage, being deemed ooncluaive proof of snch in- eligibility), the mortgagee or the holder of the note may. at its option, declare aU smna aecnred her~eby immediatety due and payable. . 10. That (a) in the event of any breach of this mortgag~e or default on the part of the a~rtgag~or, or i (b) in the event that sny of said sums of money herein referred to be not promptly and fnlly p~aid with- out de~aand or notioe, or (c) in the event that each and every the stipulations, agreementa, conditiona, and covenanta of said note and this mortgage, are not dulp, promptly. and fnlly performed; then in either or any such event, the aa~id sggregate sum mentioned in said note thea reaisining unpaid, wiffi interest ac:crued to that time, and all moneya secured hereby, ahall bec~me due and payable forthwith, or thereafter, at the option oi said mQrtgagee, as fullp and oompletely sa if all oi t6e said auna~a of money were orginaU~r stipulated to be paid on sach day, aqqthing in aaid note or in thia mortgage to the contrary , , notarithstanduig; and thereupon or thereafter, at the option of said mortgage~ withont notice or demand, auit at law or in equity. may be pro~ecnted aa if all moneya aecured herebq had matured prior t~ it~ insti_ tution. The mortgag+ee may foreclose this mortgage, as to the amount so declared due and~le, and • the aa~d Premises shall be aold to satisfy and pay the same together with oo,sta, expetises, an allowancea. i In caae of partial forectosnre of this raortgage, the mortgag+ed premises ahall be sold snbject to the con- tinuing lien of this mortgage for the amount of the debt not then dae and unpaid. In anch case the pro- I viaiona of thia paragraph may again be availed of thereafter fr8m ~me to time by the mortgagee. il. That the mor~gag~or will give immediate notice by msil to the mortgagee oi a~y oonveyanoG tranafer, or chang~e of ownerahip of the premiaea. nan 12. That no waiver oi any cov~nant herein or of ~he obligation aecnred h shaD st any tims thareafter be held to be a waiver of the terms hereof or ot the note aecur~ed hereby. R? ~p ' ~~h . 9~^fi BQ ~l.tJ ' ~ ~ ~ yf.i?.. _.+4~.....~.. .,.-.:_~i...~ ...,.~.~I?~.-':N.`l.;.t:.~li~'.,!A...._. ' ~ r